Cryptocurrencies
Biggest Winner in Crypto Crash Is Most Controversial Coin
- Tether’s market cap surged by nearly $2 billion amid woes
- Other stablecoins like USD Coin and Paxos have also benefited
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With most asset classes hurting during the coronavirus pandemic, one cryptocurrency has emerged as the biggest winner in that sector: The token known as Tether.
While crypto bellwether Bitcoin’s market capitalization has shrunk 37% since mid-February, Tether’s increased by 38%, or nearly $2 billion, according to researcher Messari.